Frith, the 39-year old former editor of Heat, had been acting editorial consultant at the London listings and lifestyle magazine since Gordon Thomson's departure.
Time Out London had an average circulation of 67,377 in the second half of 2008, down 22.5% year on year, according to February's ABC figures.
There are now 28 editions of Time Out published under licence or joint ventures around the world, but the flagship magazine in London remains pivotal to group operations.
The website timeout.com/london attracts more than 1.7 million unique users per month.
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